KUALA LUMPUR: Major property player Sino-Ocean Land Holdings Ltd, via two subsidiaries, has acquired two tracts of land in north Shanghai's Baoshan District for 1.9 billion yuan (RM884 million), according to reports by the Shanghai Daily and the Shanghai Morning Post.

The parcels, located in the central areas of Luodian New Town, were gazetted for homes.

KUALA LUMPUR: fahrenheit88, the building formerly known as KL Plaza, has achieved 92% tenancy as of today, said Kuala Lumpur Pavilion Sdn Bhd retail chief executive officer (CEO) Joyce Yap on Thursday, Aug 5.

BEIJING: China's banking regulator has ordered lenders to test the impact of a fall in house prices of up to 50% in key cities where prices have risen sharply, banking and regulatory sources said on Thursday, Aug 5.

GEORGE TOWN: Plans by the state government to tender out the development of Bayan Mutiara in a bid to raise much-needed funds for its social programmes have been hailed as a step in the right direction for Penang to achieve its vision of becoming an international city.

EFFECTIVE Aug 1, 2010, members of the Employees Provident Fund (EPF) who have not withdrawn their monies to purchase a house or reduce a housing loan will be able to purchase a house of high value under the "Flexible Housing Withdrawal" scheme.

Contributions to the EPF are regarded as income of the employees to enable them to get approval for a larger loan.

KUALA LUMPUR: Malaysia needs to promote the right property products to attract foreign investors, said a leading Malaysian property developer.

KUCHING: The Sarawak Government will undertake a pilot project in Muara Tebas near here to develop a new satellite town under the Green Corridor concept within the 10th Malaysia Plan.

KUALA LUMPUR: Hektar Real Estate Investment Trust (Hektar REIT) posted a net profit of RM9.13 million for 2Q 2010, up 3% compared to the preceding year’s corresponding period, it announced on Wednesday, Aug 4.

KUALA LUMPUR: Human resources remained a crucial issue for the construction industry, especially with regards to the shortage of skilled workers, said Master Builders Association of Malaysia (MBAM) president Kwan Foh Kwai.

WASHINGTON: As many as 50,000 struggling homeowners in five states with high unemployment may receive help from a special US$600 million (RM1.9 billion)federal fund intended to head off some foreclosures.